According to South Florida's Sun-Sentinel dated October 30, 2007, the fate of tax relief is now up to the "Florida voters to say whether the state legislature has given them the property tax relief they want".
Yesterday, "the state House and Senate approved a trimmed-down tax break ackage they hope will kick-start the state's ailing housing market by doubling the $25,000. homestead exemption and allowing homesteaders to take Save Our Homes benefits with them when they buy a new house." Remember though, "this exemption does not apply to school taxes, so it averages out to an extra $15,000. exemption."
The article on the front page of todays newspaper also disclosed that "The average homeowner will see a $220 annual tax break", that's miniscule in my opinion. According to the article, "It will take a 60 percent vote of those who turn out for the Jan. 29 special election to make the tax breaks part of the state constitution."
The proposed tax changes also "Provides "portability," allowing permanent residents to transfer their Save Our Homes accrued benefit, up to $500,000, when they move. This applies to anyone who sold a home in 2007. If the new home is more expensive, the entire Save our Homes benefit can be transferred. If the new home is less expensive, the percentage of the benefit can be transferred."
This post is quoted according to the article in todays Sun-Sentinel and was written (the quoted portions) by Linda Kleindienst and Josh Hafenbrack of the Tallahassee Bureau.
How do you feel about the recent proposed changes in the current tax plan?
Here's your chance to vent and be heard!!!
Comments(3)